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Balance Sheet, Income Statement and Cashflow

Balance sheet, Income Statement and Cashflow statement is what comprises the financial statement of a company. We will be spending a lot of time with these financial statements so it would be best to explain what they are and their differences so we don't get confused.

A Balance sheet is a financial statement where we record all the assets and liabilities of a company.

Income statement is where we record the income and expenses of a company.

The cashflow statement records the flow of cash in and out of a company.


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